Fertilizer maker Migao posts loss on weak demand in China

Reuters Staff

1 Min Read

(Reuters) - Chinese fertilizer maker Migao Corp MGO.TO reported a second-quarter loss due to weaker demand for its products and lower selling prices, but expects margins to improve in the current quarter.

The company warned last month that weaker demand for fertilizer in China during the summer would weigh on its results.

Toronto-listed Migao posted second-quarter net loss of C$8.1 million, or 15 Canadian cents per share, compared with a profit of C$6 million, or 11 Canadian cents per share, a year earlier.